Petroleum Licensing and Contracting

In May 2016, the national oil company of Egypt, the Egyptian General Petroleum Corporation (EGPC), launched an International Bid Round for Production Sharing Agreement licenses in Egypt, consisting of 11 exploration blocks, see map below:

The award titled Offshore round 2016 will have it’s the first round closed on 8 December 2016, and the second on 23 March 2017. Areas have been selected to offer the global petroleum exploration industry a variety of investment opportunities. The areas are located in a range of water depths and vary in size and level of existing geological knowledge. All areas are supported by pre-competitive geological and geophysical data and analysis undertaken by Geoscience Australia and information on third party rights or other considerations that may impact upon future petroleum activities in a release area.

There are 28 areas as part of the 2016 acreage release. These are located in five basins offshore Western Australia and the Territory of Ashmore and Cartier Islands.